The Japanese stock market suffered significant losses on Monday. The Topix index fell 2.9% to 3542.34, while the Nikkei index dropped 2.8%, closing at 51885.85 points. Earlier in the session, the Nikkei had plunged as much as 5.3% before recovering some of its losses. This downturn is attributed to Japanese government bond yields reaching a 27-year high and growing recession fears due to the expanding conflict in the Middle East. Consequently, the Nikkei is down about 12% this month and is on track for its largest monthly drop since October 2008 during the global financial crisis.
